Sunoco LP (SUN) Stock Rating Upgraded by Vetr Inc.
Sunoco LP (NYSE:SUN) was upgraded by stock analysts at Vetr from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The firm currently has a $31.33 price objective on the stock. Vetr‘s price objective would indicate a potential upside of 7.15% from the stock’s current price.
A number of other research analysts also recently weighed in on SUN. Credit Suisse Group AG set a $33.00 target price on Sunoco and gave the stock a “hold” rating in a report on Saturday, August 6th. Morgan Stanley began coverage on Sunoco in a report on Monday, August 15th. They set an “equal weight” rating and a $32.00 target price on the stock. Zacks Investment Research upgraded Sunoco from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 27th. Barclays PLC reiterated an “equal weight” rating and set a $32.00 target price on shares of Sunoco in a report on Thursday, July 7th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $43.00 target price on shares of Sunoco in a report on Tuesday, June 28th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Sunoco presently has a consensus rating of “Hold” and a consensus price target of $35.52.
Sunoco (NYSE:SUN) traded down 1.98% during mid-day trading on Monday, reaching $29.24. The company’s stock had a trading volume of 636,059 shares. The company has a 50-day moving average price of $30.45 and a 200-day moving average price of $31.86. The firm has a market cap of $3.27 billion, a PE ratio of 24.55 and a beta of 0.66. Sunoco has a 12-month low of $22.86 and a 12-month high of $40.06.
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A number of large investors have recently made changes to their positions in SUN. Cohen & Steers Inc. raised its stake in shares of Sunoco by 1,155,502.3% in the second quarter. Cohen & Steers Inc. now owns 2,022,304 shares of the company’s stock worth $516,881,000 after buying an additional 2,022,129 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Sunoco by 8.3% in the second quarter. Royal Bank of Canada now owns 1,129,546 shares of the company’s stock worth $33,830,000 after buying an additional 86,207 shares in the last quarter. TPH Asset Management LLC raised its stake in shares of Sunoco by 22.7% in the first quarter. TPH Asset Management LLC now owns 858,618 shares of the company’s stock worth $27,751,000 after buying an additional 158,563 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Sunoco during the second quarter worth $15,544,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Sunoco by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 497,577 shares of the company’s stock worth $16,484,000 after buying an additional 47,023 shares in the last quarter. Institutional investors and hedge funds own 41.97% of the company’s stock.
Sunoco LP, formerly Susser Petroleum Partners LP, is engaged in the retail sale of motor fuels and merchandise through the Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors.
To view Vetr’s full report, visit Vetr’s official website.
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